Rapid Amortization of Air or Water Pollution Abatement, Recycling
and Resource Recovering, Sewage and Hazardous Wastes Facilities
A corporation may, at its option and in lieu of any regular depreciation
allowance, recover over a period of sixty (60) months its costs
of any air-cleaning device; sewer or waste treatment plant including
waste lagoons; pollution abatement equipment; recycling and resource
recovering facilities; sewer service facilities to residential
and outlying areas built by public or private utilities; and facilities
built to reduce the volume of hazardous wastes generated.

Certification of Facilities Required
The deduction for rapid amortization of the facilities and equipment
described above shall be allowed only upon the condition that
the corporation furnish the Secretary of Revenue a certificate
from the Department of Environment and Natural Resources or the
Environmental Management Commission certifying the air cleaning
and waste treatment facilities comply with the Commission's requirements.
The recycling facilities also require a certificate from the Department
of Environment and Natural Resources.

Rapid Amortization of Equipment Mandated by OSHA A corporation may also at it option and in lieu of any regular
depreciation allowance recover over a period of 60 months its
cost of any equipment mandated by the Occupational Safety and
Health Act (OSHA). "Cost" shall include the cost of
planning, acquiring, constructing, modifying, and installing such
equipment.

"Equipment mandated by OSHA" refers to any tangible
personal property and other buildings and structural components
of buildings in which the corporation must acquire, contract,
install, or make available in order to comply with the occupational
safety and health standards adopted and promulgated by the United
States Secretary of Labor or the Commissioner of Labor of North
Carolina.